Nokia price target raised to EUR 5 from EUR 4.55 at BofA

BofA analyst Didier Scemama raised the firm’s price target on Nokia (NOK) to EUR 5 from EUR 4.55 and keeps a Neutral rating on the shares, citing the growth prospects in Nokia’s Network Infrastructure, or NI, division. The firm specifically believes the market will attribute a higher multiple for this division “post Infinera’s acquisition and refocus on the faster growing hyperscaler’s capex.”